March 15, 1984

GOVERNMENT ORDERS

BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH


The House resumed from Wednesday, March 14, consideration of the motion of Mr. MacLaren that Bill C-21, an Act to provide borrowing authority, be read the second time and referred to the Standing Committee on Finance, Trade and Economic Affairs.


LIB

Gildas L. Molgat (Speaker pro tempore)

Liberal

Mr. Speaker:

The Hon. Member for Willowdale (Mr. Peterson).

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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?

Some Hon. Members:

Hear, hear!

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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LIB

James Scott (Jim) Peterson

Liberal

Mr. Jim Peterson (Willowdale):

I am grateful to my colleagues in the House for the generous reception of my impending remarks.

We are gathered here today to discuss a Bill dealing with the borrowing authority. In one sense it reflects the over-all economic purpose of our Government. We are asking for the authority to borrow funds to finance our programs. Having listened for many, many months now to Opposition debate, I cannot understand why members of the Opposition would not be prepared to support this Bill without debate.

[DOT] (H15)

If we listen to members of the NDP, they have asked us to spend much more money, to increase the deficit further. If we listen to the Conservatives, they have asked us to do the impossible. They have asked us to reduce the deficit and at the same time to implement perhaps 150 additional spending programs which are not within our contemplation at the present time.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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?

An Hon. Member:

Name one.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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LIB

James Scott (Jim) Peterson

Liberal

Mr. Peterson:

The Hon. Member from Winnipeg asks me to name one. For example, in the Standing Committee on Finance, Trade and Economic Affairs we dealt with the financing of post-secondary education. Did they want us to put six and five limits on the transfers to provinces in that area? Absolutely not. They called for increased expenditures of over a couple of hundred million dollars. What have they asked us

to do in terms of financing health care? The Hon. Leader of the Opposition (Mr. Mulroney) said that we must give more money to the provinces. What have they asked us to do in terms of defence spending? They have said that we are not spending enough on defence and, if they were elected, that they would be prepared to vastly increase defence spending.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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PC

Donald Alex Blenkarn

Progressive Conservative

Mr. Blenkarn:

We would get rid of Canadair expenses, and we would look after some other things as well.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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LIB

James Scott (Jim) Peterson

Liberal

Mr. Peterson:

This has to be balanced against what the official spokesperson on economic matters for the Tory Party has told us. He has told us that if he had his way, he would get mean and dirty and nasty.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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PC

Arnold John Malone

Progressive Conservative

Mr. Malone:

With Canadair.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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LIB

James Scott (Jim) Peterson

Liberal

Mr. Peterson:

That means that he would be cutting off transfer payments made to the provinces and to individual Canadians in order to create that safety net, in order to create a floor below which no person, regardless of their circumstances, should have to fall.

When we talk about the deficit at this time, perhaps many people would agree that in the past we have made mistakes.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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PC

Arnold John Malone

Progressive Conservative

Mr. Malone:

Hear, hear!

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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LIB

James Scott (Jim) Peterson

Liberal

Mr. Peterson:

During the seventies when we had positive growth in the country, perhaps we should have been running some surpluses and setting them aside for a rainy day.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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PC

Dave Nickerson

Progressive Conservative

Mr. Nickerson:

That is right.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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LIB

James Scott (Jim) Peterson

Liberal

Mr. Peterson:

That is history. Let us deal with the Budget measures in the April 19, 1983 Budget and in the February 15, 1984 Budget. Are the Tories prepared to advocate to the House one measure whereby they would cut back on expenditures?

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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PC

Dave Nickerson

Progressive Conservative

Mr. Nickerson:

Canadair.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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PC

Arnold John Malone

Progressive Conservative

Mr. Malone:

Yes, Canadair.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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PC

Gordon Edward Taylor

Progressive Conservative

Mr. Taylor:

Patronage.

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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PC

John Raymond Ellis

Progressive Conservative

Mr. Ellis:

Do you want three?

Topic:   GOVERNMENT ORDERS
Subtopic:   BORROWING AUTHORITY ACT, 1984-85 MEASURE TO ESTABLISH
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March 15, 1984